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The East African shilling was the sterling unit of account in British -controlled areas of East Africa from 1921 until 1969. [2] It was issued by the East African Currency Board. It is also the proposed name for a common currency that the East African Community plans to introduce. The shilling was divided into 100 cents, and twenty shillings ...
Bank of Tanzania website. Valuation. Inflation. 5.6%. Source. The World Factbook, 2015 est. The shilling (Swahili: shilingi; abbreviation: TSh; code: TZS) is the currency of Tanzania. It is subdivided into 100 cents (senti in Swahili). The Tanzanian shilling replaced the East African shilling on 14 June 1966 at par. [1]
The first Ugandan shilling (UGS) replaced the East African shilling in 1966 at par. Following high inflation, a new shilling (UGX) was introduced in 1987 worth 100 old shillings. The shilling is usually a stable currency and predominates in most financial transactions in Uganda, which has a very efficient foreign exchange market with low spreads.
Not long after the Italian occupation and the attempted transformation of Ethiopia into Italian East Africa, the Italian lira was introduced on 15 July 1936 and Ethiopian banknotes were withdrawn from circulation at 3 lire per talari (birr). In an effort to increase the use of Italian paper money, the exchange rate for silver coins (Maria ...
Shell money has appeared in the Americas, Asia, Africa and Australia. The shell most widely used worldwide as currency was the shell of Cypraea moneta , the money cowry . This species is most abundant in the Indian Ocean , and was collected in the Maldive Islands , in Sri Lanka , along the Malabar coast, in Borneo and on other East Indian ...
The West African Monetary Zone (WAMZ) has proposed to create a common currency for all West Africa states, the Eco. In May 2020, an agreement between the French government and 8 West African countries was reached, meaning to change the CFA franc to the Eco; though no plan had been established as of January 2021. [4]
In 1915 and 1916 in the period of fighting in East Africa during World War I a large series of emergency issues of paper money were issued. 1916 also saw a final issue of coins to pay German led troops, including 15 Rupien coins which contained an equivalent amount of gold from the Sekenke Gold Mine to equal 15 German Marks. Later in 1916 ...
On 14 September 1966, the Kenyan shilling replaced the East African shilling at par, although the latter was not demonetised until 1969. The Central Bank of Kenya issued notes in denominations of 5/=, 10/=, 20/=, 50/= and 100/=. All of the notes feature a portrait of Kenya's first prime minister and president, Jomo Kenyatta, on the front and ...